MetricStream solution to provide a single framework to consolidate and streamline internal audit processes across the global enterprise
PALO ALTO, Calif., July 10, 2013 /PRNewswire/ – International child development organization, Compassion International, has chosen MetricStream to provide an integrated solution for risk-based audit management. The MetricStream solution will help Compassion International capture and analyze risks from across their global enterprise, and leverage this risk intelligence to plan internal audits, prioritize audit schedules, and manage audit budgets efficiently and cost-effectively. The solution will also help in streamlining end-to-end internal audit processes, automating resource-intensive tasks, and enabling real-time tracking of audit processes and issues.
Compassion International is the world’s leading authority in child sponsorship. Compassion revolutionized the fight against global poverty by equipping the Church to develop children out of poverty to become responsible and fulfilled Christian adults. It is the only child sponsorship program to be validated through independent, empirical research. Today, Compassion partners with more than 6,000 Christian churches in 26 countries to release more than 1.4 million babies, children and students from poverty in Jesus’ name.
Compassion has been awarded the highest rating for financial stewardship and transparency for 11 consecutive years by Charity Navigator, America’s largest charity evaluator.
“Integrity, accountability, and transparency are the hallmarks of everything we do at Compassion – and to ensure that our operations worldwide are in line with these objectives, we are taking steps to strengthen and optimize our internal audit processes,” said James Hansen, Vice President – The Office of Risk Management at Compassion International. “We chose MetricStream because their solution can integrate all our audit processes in a single point of reference, enhance enterprise-wide audit transparency and collaboration, and deliver the real-time risk intelligence we need to make swift and proactive audit decisions.”
The MetricStream solution will enable a systematic, standardized, and closed-loop approach to the complete internal audit lifecycle – extending from risk assessments, to audit planning and scheduling, to audit execution, to issue management, to reporting and trend analysis. Being Web-based, the solution will enable auditors worldwide to efficiently coordinate audit tasks, and share information. It will also support offline audits, allowing data to be easily collected on handheld devices without access to the corporate network, and later synchronized with the central audit repository.
Executive dashboards, reports, charts, and graphs will provide real-time visibility into enterprise-wide risks and audit processes, enabling Compassion international to proactively identify high-risk areas, and closely track the status of audits.
Compassion will be adopting the MetricStream solution over the MetricStream cloud — a state-of-the-art virtualization and private cloud technology that accelerates and simplifies the deployment of GRC applications, while also providing the benefits of excellent reliability and security.
“We are delighted to work with such a visionary and well-respected non-profit organization as Compassion International,” said Gaurav Kapoor, Chief Operating Officer at MetricStream. “Mid-sized organizations face the twin challenge of ensuring that their internal audits are not only as comprehensive and consistent as some of their larger counterparts, but also more lean and cost-efficient. MetricStream GRC solutions are designed to meet these complex needs through capabilities such as a cloud deployment model, automated workflows, and an extensible & flexible GRC platform – all of which are helping multiple mid-sized organizations worldwide drive maximum value from their audit processes and infrastructure.”
MetricStream is a market leader in Enterprise-wide Governance, Risk, Compliance (GRC) and Quality Management Solutions for global corporations. MetricStream solutions are used by leading corporations such as UBS, P&G, Constellation Energy, Pfizer, Philips, BAE Systems, Twitter, SanDisk, Cummins and Sonic Automotive in diverse industries such as Financial Services, Healthcare, Life Sciences, Energy and Utilities, Food, Retail, CPG, Government, Hi-tech and Manufacturing to manage their risk management programs, quality processes, regulatory and industry-mandated compliance and corporate governance initiatives, as well as several million compliance professionals worldwide via the www.ComplianceOnline.com portal. MetricStream is headquartered in Palo Alto, California and can be reached at www.metricstream.com.
Mr. Vinay Bapna